Argentina's government said today that it had agreed with France's Total to work together to boost natural gas output by 2 million cubic metres per day at two Patagonian fields where YPF – which is being nationalized – also has a stake.
City Mayor Mauricio Macri once again criticized the Fernández de Kirchner administration over the decision to expropriate YPF, although he acknowledged that were he chosen president in 2015 the company would remain in the hands of the state.
Shares of Spain-based firm Repsol-YPF fell sharply in Madrid today plunging 2.47 percent yesterday, to 15.05 euros (US$19.66) each, underperforming the benchmark Ibex index, which was down 1.77percent.
Subway and Pre-Metro tram workers’ delegates held a 4-hour strike as part of their claims to be included at this year’s collective bargaining talks. The measure took place from 7pm to 11pm, and the service will be resumed with the first train at 5:30am.
National senator Aníbal Fernández, who presided over yesterday’s and Tuesday’s session, announced yesterday that a modification would be made to the original bill to add another Repsol-owned company to the expropriation.
Speaking as a guest on Ambito Debate, Radical senator Naidenoff criticized the way the Government seized YPF and said that his party rejected the DNU emergency decrees that called for the intervention of the oil company.
While giving a speech in San Juan, President Cristina Fernández de Kirchner thanked “all political parties who supported the bill calling for the expropriation of Repsol YPF,” assuring that the gesture shows “how mature our civil and political society” has become.
Victory Front Senator Aníbal Fernández assured today that the YPF expropriation draft bill will be cleared for debate by the Upper Houses’ committees currently discussing it so that it can hit the Lower House floor next Wednesday.
Buenos Aires stocks fell today, with the Merval benchmark stock index moving down by 0.9 percent to 2,357.67 points.
While giving a speech in Tecnópolis, President Cristina Fernández de Kirchner mentioned the recent decision to expropriate YPF and justified her administration’s comings and goings with the oil company by saying that “you build history the way you can, not the way you want.”